SOURCE: Wood Partners

Wood Partners

September 15, 2014 13:29 ET

8th+Hope, First Post-Recession Downtown L.A. Luxury Apartments, Over 25 Percent Leased

LOS ANGELES, CA--(Marketwired - Sep 15, 2014) - A cohesive approach to design, marketing and operations has led to a rapid leasing performance at 8th+Hope, a 22-story, 290-unit luxury glass high-rise in the South Park district at 801 Hope Street, developed by Wood Partners.

The .7-acre complex, managed by Wood Residential Services, is one of the first post-recession high-rise apartment buildings to be built in downtown Los Angeles, which has 500,000 jobs but only 30,000 housing units.

"The initial and ongoing success of 8th+Hope is the result of many factors coming together -- both internally and externally. We put a great deal of up-front thought into connecting on a deeper level with the desires of our target residents, and we're seeing that this approach is proving very successful," said Brian Hansen, Wood Partners' director of development for Southern California.

Opened on August 1, 8th+Hope offers units with floor-to-ceiling glass and expansive balconies with stunning views of downtown Los Angeles and luxuriously detailed interior finishes. A 4,500-square-foot rooftop deck and clubroom with retractable glass walls are just two of the amenity highlights, which also include one of the largest private film projection theaters in California. A sleekly designed, flexible lobby space was created to provide a backdrop for a dynamic variety of programming. The innovative Ground Floor Project debuted in this space last Friday night with artist Bettina Hubby's first of its kind installation.

One of the nation's most active multifamily developers, Wood Partners has more than 3,000 units under development on the West Coast stretching from Seattle to San Diego. The majority of these projects will be delivering over the next 12 months.

"Downtown Los Angeles is experiencing explosive growth and vibrancy, and 8th+Hope is directly in the center of it all, especially with the redesign of The Bloc next door and the addition of Whole Foods one block away," said Frank Middleton, Wood Partners western region development director. "It's an exceptional asset in a special location, and we feel fortunate to be able to offer something that is rather scarce in the current market."

About Wood Partners
Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. It ranks consistently among the top five multifamily developers in the country. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the acquisition and development of more than 49,000 homes with a combined value of more than $7.6 billion nationwide. The company currently owns 77 properties with a combined total of 20,200+ units. Wood Partners has offices in 16 major markets nationwide including Atlanta, Baltimore, Delray Beach/South Florida, Boston, Charlotte, Dallas, Denver, Houston, New York, Southern California, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle, and Washington, D.C. To learn more about Wood Partners, please visit our website, www.woodpartners.com.